Iran's oil minister, Mohsen Paknejad, expressed confidence today, stating he is "not worried" about the rising tensions in the Middle East, despite reports suggesting Israel may launch attacks on Iran. His remarks were reported by the ministry’s Shana news site during his visit to Assaluyeh, Iran's energy hub.

The recent increase in oil price was driven by concerns over Middle East tensions. However, some investors sold off their positions to secure profits. Despite this, oil prices are expected to remain high due to ongoing geopolitical risks. While a direct attack on Iran's oil facilities is unlikely, the conflict could still disrupt supply. OPEC+ has the capacity to offset any losses but may face challenges if Iran retaliates.